Financial Times FT.com

Ahold and Carrefour beat estimates

By Scheherazade Daneshkhu in Paris and Michael Steen in Amsterdam

Published: October 24 2008 17:58 | Last updated: October 24 2008 17:58

Two of Europe’s leading retailers showed resilience against a deteriorating consumer environment as they reported better-than-expected sales in the three months to the end of September.

Ahold, which makes more than half of its revenues in the US as well and runs the biggest Dutch supermarket chain, reported a 3.9 per cent rise in third-quarter net sales to €5.8bn. Paris-based Carrefour, the world’s second-largest retailer after Wal-Mart of the US, reported a recovery in sales at its French hypermarkets driven by promotions.

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